May 16, 2023

China VC: Prices fall amid mounting stocks (week ended May 15, 2023)

Demand for vitamin C remained weak as feed producers withheld buying. Producers who were keen to clear mounting stocks cut prices lately.

In the local market, 99% raw powder vitamin C prices dropped the range of RMB17.70-21.50/kg. Prices of 93% coated products fell to RMB18.70-22.50/kg. whereas those of 35% phosphorylated ones slid to the range of RMB13.20-16.50/kg.

Export prices of vitamin C (99% raw powder) dipped to US$2.55/kg whereas those of 98% coated products softened to US$2.70/kg. Prices of 35% phosphorylated vitamin C decreased to US$1.90/kg.

With sales of feed below expectation, feed producers will continue to limit purchases. Producers are likely to cut prices further to clear excess stocks.

Full version of the report is available at: https://spoutinfo.com/market-forecast-detail/29/32/325/4805

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